Sharp rise in net profit in H1 Ingenico
Ingenico posted a net income multiplied by more than two in the first half thanks to the increase in transactions in Europe and raised its sales target.
The specialist in payment terminals is now 805-815000000 euros in turnover for 2010 while the group was counting on sales until now included in the top of the range from 790 to 805,000,000.
Its net profit was for the first half of 2010 to 11,200,000 euros, an increase of 133% compared to last year, returning to levels comparable to early 2008, while its net sales reached 395 million, up 10% over the first six months of 2009 on a comparable basis.
"The return to positive momentum in the second quarter we can see our goal of increasing revenue and our target operating margin adjusted for 2010, said Thursday in a statement Philip Lazarus, CEO of 'Ingenico.
The adjusted operating margin target of between 12.5% to 13% is thus maintained for 2010, same as the EBITDA margin between 16% and 17%.
The group had also exceeded its expectations for adjusted operating margin, which stood at 9.3% against a target level "comparable" to 8.6% in first half 2009 pro forma.
The Group's organic growth was driven by its performance in China, Germany and France.Ingenico has continued its acquisition strategy by taking control of both companies in the areas of services related to payments, Transfer To to Singapore and First Data Iberica in Spain.
On the historic market of payment terminals, the main competitors remain Ingenico Hypercom and VeriFone Americans.
At the close Thursday, as the group finished down slightly from 0.1% to 19.40 euros, bringing its market capitalization to nearly $ 950 million.